Arvinas (NASDAQ:ARVN) Hits New 52-Week Low – Here’s Why

Arvinas, Inc. (NASDAQ:ARVN) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $10.97 and last traded at $9.90, with a volume of 737957 shares trading hands. The stock had previously closed at $17.56.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ARVN shares. Stephens started coverage on Arvinas in a research note on Monday, November 18th. They set an “overweight” rating and a $55.00 target price on the stock. Guggenheim reaffirmed a “buy” rating and set a $57.00 target price on shares of Arvinas in a research note on Wednesday, February 12th. Wedbush cut Arvinas from an “outperform” rating to a “neutral” rating and cut their target price for the company from $57.00 to $12.00 in a research note on Wednesday. BMO Capital Markets set a $20.00 target price on Arvinas and gave the company an “outperform” rating in a research note on Wednesday. Finally, BTIG Research initiated coverage on Arvinas in a research note on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price objective on the stock. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.08.

Arvinas Price Performance

The business has a fifty day simple moving average of $17.97 and a two-hundred day simple moving average of $22.20. The company has a market cap of $621.01 million, a PE ratio of -3.26 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same quarter last year, the company earned ($2.53) earnings per share. On average, equities research analysts predict that Arvinas, Inc. will post -3.81 EPS for the current year.

Insider Activity

In related news, CEO John G. Houston sold 31,338 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the transaction, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, valued at $19,353,065.60. This represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ian Taylor sold 9,020 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.71, for a total value of $150,724.20. Following the completion of the transaction, the insider now directly owns 159,121 shares in the company, valued at approximately $2,658,911.91. The trade was a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,572 shares of company stock worth $695,030. Insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARVN. Intech Investment Management LLC acquired a new stake in Arvinas during the 3rd quarter worth about $350,000. Algert Global LLC grew its position in Arvinas by 278.1% during the 3rd quarter. Algert Global LLC now owns 168,061 shares of the company’s stock worth $4,139,000 after purchasing an additional 123,613 shares during the period. FMR LLC grew its position in Arvinas by 7.6% during the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after purchasing an additional 204,317 shares during the period. Quantbot Technologies LP grew its position in Arvinas by 147.3% during the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after purchasing an additional 2,601 shares during the period. Finally, PEAK6 Investments LLC grew its position in Arvinas by 42.9% during the 3rd quarter. PEAK6 Investments LLC now owns 15,000 shares of the company’s stock worth $369,000 after purchasing an additional 4,500 shares during the period. 95.19% of the stock is owned by institutional investors and hedge funds.

Arvinas Company Profile

Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body’s own natural protein disposal system to degrade and remove disease-causing proteins.